Evolutionary Microeconomics

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Evolutionary Microeconomics

Author : Jacques Lesourne
Publisher : Springer Science & Business Media
ISBN 13 : 3540285377
Total Pages : 296 pages
Book Rating : 4.5/5 (42 download)

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Book Synopsis Evolutionary Microeconomics by : Jacques Lesourne

Download or read book Evolutionary Microeconomics written by Jacques Lesourne and published by Springer Science & Business Media. This book was released on 2006-07-01 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: Classical microeconomics is intended to explain how a price system is able to coordinate the economic agents. But even if it can be extended to incomplete information and externalities, it remains grounded on very heroic assumptions. Agents are endowed with a very strong rationality, equilibrium is stated without a concrete process to achieve it, market is the unique institution considered. Evolutionary microeconomics is aimed at bypassing these limitations by considering a dynamic approach, however not biologically oriented. Agents have local information and bounded rationality, they are involved in explicit processes of interactions through time, various institutions sustain the market or substitute to it. It explains then some phenomena hardly explained by classical microeconomics: dispersion of prices, variety of industrial structures, financial bubbles.

The Microeconomics of Complex Economies

Author : Wolfram Elsner
Publisher : Academic Press
ISBN 13 : 0124115993
Total Pages : 600 pages
Book Rating : 4.1/5 (241 download)

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Book Synopsis The Microeconomics of Complex Economies by : Wolfram Elsner

Download or read book The Microeconomics of Complex Economies written by Wolfram Elsner and published by Academic Press. This book was released on 2014-04-15 with total page 600 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Microeconomics of Complex Economies uses game theory, modeling approaches, formal techniques, and computer simulations to teach useful, accessible approaches to real modern economies. It covers topics of information and innovation, including national and regional systems of innovation; clustered and networked firms; and open-source/open-innovation production and use. Its final chapter on policy perspectives and decisions confirms the value of the toolset. Written so chapters can be used independently, the book includes an introduction to computer simulation and pedagogical supplements. Its formal, accessible treatment of complexity goes beyond the scopes of neoclassical and mainstream economics. The highly interdependent economy of the 21st century demands a reconsideration of economic theories. Describes the usefulness of complex heterodox economics Emphasizes divergences and convergences with neoclassical economic theories and perspectives Fits easily into courses on intermediate microeconomics, industrial organization, and games through self-contained chapters

The New Evolutionary Microeconomics

Author : Jason Potts
Publisher : Edward Elgar Publishing
ISBN 13 :
Total Pages : 266 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis The New Evolutionary Microeconomics by : Jason Potts

Download or read book The New Evolutionary Microeconomics written by Jason Potts and published by Edward Elgar Publishing. This book was released on 2000 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work acts as a critique of the basis of neoclassical microeconomics, and makes a proposal for the structure of a new evolutionary theory.

Microeconomics

Author : Samuel Bowles
Publisher : Princeton University Press
ISBN 13 : 1400829313
Total Pages : 608 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Microeconomics by : Samuel Bowles

Download or read book Microeconomics written by Samuel Bowles and published by Princeton University Press. This book was released on 2009-12-13 with total page 608 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this novel introduction to modern microeconomic theory, Samuel Bowles returns to the classical economists' interest in the wealth and poverty of nations and people, the workings of the institutions of capitalist economies, and the coevolution of individual preferences and the structures of markets, firms, and other institutions. Using recent advances in evolutionary game theory, contract theory, behavioral experiments, and the modeling of dynamic processes, he develops a theory of how economic institutions shape individual behavior, and how institutions evolve due to individual actions, technological change, and chance events. Topics addressed include institutional innovation, social preferences, nonmarket social interactions, social capital, equilibrium unemployment, credit constraints, economic power, generalized increasing returns, disequilibrium outcomes, and path dependency. Each chapter is introduced by empirical puzzles or historical episodes illuminated by the modeling that follows, and the book closes with sets of problems to be solved by readers seeking to improve their mathematical modeling skills. Complementing standard mathematical analysis are agent-based computer simulations of complex evolving systems that are available online so that readers can experiment with the models. Bowles concludes with the time-honored challenge of "getting the rules right," providing an evaluation of markets, states, and communities as contrasting and yet sometimes synergistic structures of governance. Must reading for students and scholars not only in economics but across the behavioral sciences, this engagingly written and compelling exposition of the new microeconomics moves the field beyond the conventional models of prices and markets toward a more accurate and policy-relevant portrayal of human social behavior.

Microeconomics

Author : Samuel Bowles
Publisher : Princeton University Press
ISBN 13 : 0691126380
Total Pages : 598 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis Microeconomics by : Samuel Bowles

Download or read book Microeconomics written by Samuel Bowles and published by Princeton University Press. This book was released on 2006-02-05 with total page 598 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing upon recent advances in evolutionary game theory, contract theory, behavioural experiments and modeling of dynamic processes, Bowles develops a theory about the interraction between economic institutions and individual behaviour.

Evolutionary Economics: Program and Scope

Author : Kurt Dopfer
Publisher : Springer Science & Business Media
ISBN 13 : 9401006482
Total Pages : 378 pages
Book Rating : 4.4/5 (1 download)

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Book Synopsis Evolutionary Economics: Program and Scope by : Kurt Dopfer

Download or read book Evolutionary Economics: Program and Scope written by Kurt Dopfer and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: Evolutionary Economics: Program and Scope offers a fresh look at the paradigmatic foundations and basic theoretical propositions of economics. Twelve authors - each of them with his own distinct contribution to economics - make a step forward by reinterpreting major areas of micro and macroeconomics in line with modern evolutionary thinking. This volume offers a unified approach to economics that allows recent developments in various strands of Evolutionary Economics to be integrated and major positions of Neoclassical Economics to be reconsidered. The chapters on `Evolutionary Macro Economics' explore macro areas such as the division of labor and knowledge, technology and institutions, population thinking, meso economics, techno-economic trajectories and industrial sectors. By telescoping structure into time, they highlight the processes of structural change and co-evolution between technologies and institutions, and provide a causal-explanatory core for a modern - evolutionary - theory of economic growth and economic development. The chapters on `Evolutionary Micro Economics' offer insights into the knowledge based theories of the firm and take up the issues of cognitive and behavioral routines. The contributions explore the processes of complex human choice, creativity, and adaptation in selective and path-dependent environments. The discussions make an essential contribution to the cognitive and behavioral foundations of a modern institutional economics.

Principles of Microeconomics

Author : Martin Kolmar
Publisher : Springer
ISBN 13 : 3319575899
Total Pages : 338 pages
Book Rating : 4.3/5 (195 download)

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Book Synopsis Principles of Microeconomics by : Martin Kolmar

Download or read book Principles of Microeconomics written by Martin Kolmar and published by Springer. This book was released on 2017-09-11 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text provides a comprehensive and unique introduction to modern microeconomics. It pursues an integrative approach by putting the main findings of economics into a broader perspective; theories are critically reflected on from a philosophical standpoint and by comparing them to approaches found in the social sciences, while implications for the design of the legal system and business practices are highlighted throughout. In addition, the book presents brief examples and comprehensive case studies to facilitate an understanding of the theories’ real-world implications. Starting from the question as to why and how societies organize economic activity, the book adopts an institutional perspective to analyze the potential and limitations of different market types with regard to alleviating scarcity and achieving distributive objectives. It not only covers traditional rational-choice models, but also systematically introduces readers to important findings from behavioral economics and psychology. A companion workbook is available which features a wide variety of exercises, ranging from basic multiple-choice questions to challenging mathematical problems and case study scenarios.

Microeconomics of Interactive Economies

Author : Wolfram Elsner
Publisher : Edward Elgar Publishing
ISBN 13 : 1781953406
Total Pages : 267 pages
Book Rating : 4.7/5 (819 download)

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Book Synopsis Microeconomics of Interactive Economies by : Wolfram Elsner

Download or read book Microeconomics of Interactive Economies written by Wolfram Elsner and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: A 'Non-Toxic' Intermediate Textbook 'Here, at last, we have the ideal textbook for microeconomics from an evolutionary and institutional perspective. Wolfram Elsner does nothing less than reconstruct the principles of microeconomics for a world of interactive business networks, change and innovation, crisis and uncertainty, as well as coordination problems and cooperative joint ventures. The publication of this book is a landmark event in microeconomics.' – Phillip A. O'Hara, Curtin University of Technology, Perth, Australia and President-Elect of AFEE, 2012 'This microeconomics textbook by Wolfram Elsner provides a timely alternative for understanding the micro roots of uncertainty, complexity and crisis. The evolutionary and institutional perspective sheds new light on contemporary issues such as clusters, networks, innovation and coordination. By reading this textbook, teachers, students and practitioners will open their minds to new economic thinking.' – Ping Chen, Peking University, Beijing, Fudan University, Shanghai, China and author of Economic Complexity and Equilibrium Illusion This thorough reconstruction of microeconomics 'post-2008' provides economic students with a new way of real-world understanding and strategic qualification that will be better appreciated by their future employers and any professional practice. It will prove essential for economic students and other social science programs at a graduate level. This accessible and engaging textbook includes: • A survey of the most famous core models of modern microeconomics including the neoclassical approach and its heterodox critiques – Sraffian, Institutionalist, Post-Keynesian and Mirowskian • An introduction to complexity thinking in economics • An introduction to game theory • An introduction to the methods of complex computer simulation • An introduction to strategic behavior • An newly integrated approach to real-world and complexity economics, rather than focusing on neoclassical ('perfect') market equilibrium 'plus a thousand recent extra things on top'. See the companion website – www.microeconomics.us – for teaching material, readings, exams and as a general guide to explore issues raised in the book.

The Evolutionary Origins of Markets

Author : Rojhat Avşar
Publisher : Routledge
ISBN 13 : 135117374X
Total Pages : 182 pages
Book Rating : 4.3/5 (511 download)

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Book Synopsis The Evolutionary Origins of Markets by : Rojhat Avşar

Download or read book The Evolutionary Origins of Markets written by Rojhat Avşar and published by Routledge. This book was released on 2019-11-04 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: Our elaborate market exchange system owes its existence not to our calculating brain or insatiable self-centeredness, but rather to our sophisticated and nuanced human sociality and to the inherent rationality built into our emotions. The modern economic system is helped a lot more than hindered by our innate social instincts that support our remarkable capacity for building formal and informal institutions. The book integrates the growing body of experimental evidence on human nature scattered across a variety of disciplines from experimental economics to social neuroscience into a coherent and original narrative about the extent to which market (or impersonal exchange) relations are reflective of the basic human sociality that was originally adapted to a more tribal existence. An accessible resource, this book will appeal to students of all areas of economics, including Behavioral Economics and Neuro-Economics, Microeconomics, and Political Economy.

The Evolutionary Foundations of Economics

Author : Kurt Dopfer
Publisher : Cambridge University Press
ISBN 13 : 9781139443234
Total Pages : 604 pages
Book Rating : 4.4/5 (432 download)

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Book Synopsis The Evolutionary Foundations of Economics by : Kurt Dopfer

Download or read book The Evolutionary Foundations of Economics written by Kurt Dopfer and published by Cambridge University Press. This book was released on 2005-05-23 with total page 604 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is widely recognised that mainstream economics has failed to translate micro consistently into macro economics and to provide endogenous explanations for the continual changes in the economic system. Since the early 1980s, a growing number of economists have been trying to provide answers to these two key questions by applying an evolutionary approach. This new departure has yielded a rich literature with enormous variety, but the unifying principles connecting the various ideas and views presented are, as yet, not apparent. This 2005 volume brings together fifteen original articles from scholars - each of whom has made a significant contribution to the field - in their common effort to reconstruct economics as an evolutionary science. Using meso economics as an analytical entity to bridge micro and macro economics as well as static and dynamic realms, a unified economic theory emerges.

Economics as an Evolutionary Science

Author : Anna Sachko Gandolfi
Publisher : Routledge
ISBN 13 : 1351324632
Total Pages : 273 pages
Book Rating : 4.3/5 (513 download)

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Book Synopsis Economics as an Evolutionary Science by : Anna Sachko Gandolfi

Download or read book Economics as an Evolutionary Science written by Anna Sachko Gandolfi and published by Routledge. This book was released on 2018-02-06 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economics is traditionally taken to be the social science concerned with the production, consumption, exchange, and distribution of wealth and commodities. Economists carefully track the comings and goings of the human household, whether written small (microeconomics) or large (macroeconomics) and attempt to predict future patterns under different situations. However, in constructing their models of economic behavior, economists often lose sight of the actual characteristics and motivations of their human subjects. In consequence, they have found the goal of an explanatory and predictive science to be elusive. Economics as an Evolutionary Science reorients economics toward a more direct appreciation of human nature, with an emphasis on what we have learned from recent advances in evolutionary science. The authors integrate economics and evolution to produce a social science that is rigorous, internally coherent, testable, and consistent with the natural sciences. The authors suggest an expanded definition of "fitness," as in Darwin's survival of the fittest, emphasizing not only the importance of reproduction and the quality of offspring, but also the unique ability of humans to provide material wealth to their children. The book offers a coherent explanation for the recent decline in fertility, which is shown to be consistent with the evolutionary goal of maximizing genetic success. In addition, the authors demonstrate the relevance to economics of several core concepts derived from biologists, including the genetics of parent-offspring conflict, inclusive fitness theory, and the phenomena of R-selection and K-selection. The keystone of their presentation is a cogent critique of the traditional concept of "utility." As the authors demonstrate, the concept can be modified to reflect the fundamental evolutionary principle whereby living things-including human beings-have been selected to behave in a manner that maximizes their genetic representation in future generations. Despite the extraordinary interest in applying evolutionary biology to other disciplines, Economics as an Evolutionary Science marks the first major attempt at a synthesis of biology and economics. Scholarly yet accessible, this volume offers unique and original perspectives on an entire discipline.

Explaining Process and Change

Author : Ulrich Witt
Publisher : University of Michigan Press
ISBN 13 : 9780472102914
Total Pages : 204 pages
Book Rating : 4.1/5 (29 download)

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Book Synopsis Explaining Process and Change by : Ulrich Witt

Download or read book Explaining Process and Change written by Ulrich Witt and published by University of Michigan Press. This book was released on 1992 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: International experts discuss new applications for evolutionary economics

Microfoundations of Evolutionary Economics

Author : Yoshinori Shiozawa
Publisher : Springer
ISBN 13 : 4431552677
Total Pages : 346 pages
Book Rating : 4.4/5 (315 download)

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Book Synopsis Microfoundations of Evolutionary Economics by : Yoshinori Shiozawa

Download or read book Microfoundations of Evolutionary Economics written by Yoshinori Shiozawa and published by Springer. This book was released on 2019-06-27 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides for the first time the microfoundations of evolutionary economics, enabling the reader to grasp a new framework for economic analysis that is compatible with evolutionary processes. Any independent approach to economics must include a value theory (or price theory) and price and quantity adjustment processes. Evolutionary economics has rightly and successfully concentrated its efforts on explaining evolutionary processes in technology and institutions. However, it does not have its own value theory and is not capable of explaining the workings of everyday economics processes, in which any evolutionary process would take place. Our point of departure is the addition of myopic agents with severely limited rational and forecasting capacities (in stark contrast to mainstream economics). We show how myopic agents, in a complex world, can produce a stable price system and demonstrate how they can adjust their production to changing demand flows. Agents behave without any knowledge of the overall process, and they generate a stable economy as large as the global network of exchanges. This is the true “miracle” of the market mechanism. In contrast to mainstream general equilibrium theory, this miracle can be explained without the need for an auctioneer or infinitely rational agents. Thanks to this book, evolutionary economics can now claim to be an independent approach to economics that can completely replace mainstream neoclassical economics.

Advances in Self-organization and Evolutionary Economics

Author : Jacques Lesourne
Publisher : Economica
ISBN 13 :
Total Pages : 434 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Advances in Self-organization and Evolutionary Economics by : Jacques Lesourne

Download or read book Advances in Self-organization and Evolutionary Economics written by Jacques Lesourne and published by Economica. This book was released on 1998 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: With its general focus on the dynamic processes of a knowledge-based economy, this book will be an invaluable resource for gaining greater understanding of the complexity of real economic systems.

Microeconomics

Author : Avinash Dixit
Publisher : Oxford University Press
ISBN 13 : 0199689377
Total Pages : 153 pages
Book Rating : 4.1/5 (996 download)

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Book Synopsis Microeconomics by : Avinash Dixit

Download or read book Microeconomics written by Avinash Dixit and published by Oxford University Press. This book was released on 2014-04 with total page 153 pages. Available in PDF, EPUB and Kindle. Book excerpt: The issues of microeconomics - including individuals' financial choices and firms' decisions about hiring and firing - have a large impact on the economic world, arguably as much, if not more than, macroeconomics. In this Very Short Introduction Avinash Dixit clearly explains what microeconomics is by using examples from around the world.

The General Theory of Economic Evolution

Author : Kurt Dopfer
Publisher : Routledge
ISBN 13 : 1134466862
Total Pages : 349 pages
Book Rating : 4.1/5 (344 download)

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Book Synopsis The General Theory of Economic Evolution by : Kurt Dopfer

Download or read book The General Theory of Economic Evolution written by Kurt Dopfer and published by Routledge. This book was released on 2007-09-27 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first book to chart the development of the field of evolutionary economics, this book provides an integrated generic framework to define the rules of an economic system; how they are coordinated and the causes and consequences of their change.Packed with pedagogical features including essay and tutorial questions, case studies and an extensive

An Evolutionary Theory of Economic Change

Author : Richard R. Nelson
Publisher : Harvard University Press
ISBN 13 : 9780674041431
Total Pages : 456 pages
Book Rating : 4.0/5 (414 download)

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Book Synopsis An Evolutionary Theory of Economic Change by : Richard R. Nelson

Download or read book An Evolutionary Theory of Economic Change written by Richard R. Nelson and published by Harvard University Press. This book was released on 1985-10-15 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Nelson and Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms. To replace these assumptions, they borrow from biology the concept of natural selection to construct a precise and detailed evolutionary theory of business behavior. They grant that films are motivated by profit and engage in search for ways of improving profits, but they do not consider them to be profit maximizing. Likewise, they emphasize the tendency for the more profitable firms to drive the less profitable ones out of business, but they do not focus their analysis on hypothetical states of industry equilibrium. The results of their new paradigm and analytical framework are impressive. Not only have they been able to develop more coherent and powerful models of competitive firm dynamics under conditions of growth and technological change, but their approach is compatible with findings in psychology and other social sciences. Finally, their work has important implications for welfare economics and for government policy toward industry.